Yeah, that's solvent based cement. I've used it once, won't do so again. It's nasty, nasty stuff.
One of the things they taught first in school (I took 6 years of fine woodworking) about the contact cement was to not use solvent based stuff. Actually they preferred using waterproof wood glue in high moisture applications.
The solvent based looks cheaper to start as water based costs more up front. But the water based goes a lot farther than the solvent based kind does.
If you need the water based to dry a little faster, a hair dryer or heat gun works wonders. And you can also leave the water based stuff applied overnight (w/out sticking the two pieces together) & it'll still adhere the next day. Can't do that with solvent based.